A collapse of the Asian markets sparked panic selling to send the markets plummeting with the Dow crashing 660 points to 15,799. Nasdaq collapsed 165 points to 4,540.
On the upside
Southern Company (NYSE: SO) will pay a premium of approximately $8 billion to acquire AGL Resources (NYSE: AGL).
On the downside
Apple (Nasdaq: AAPL) recalled certain iPhone 6 Plus phones that take blurry pictures.
Vital Therapies (Nasdaq: VTL) announced disappointing results from a Phase 3 trial of VTI-208 to treat liver failure.
Petrobras (NYSE: PBR) stock tumbled as crude oil prices dropped below $40 a barrel.
Anxiety about the Chinese economy sent shares of Alibaba (NYSE: BABA) tumbling below its IPO price.
Privacy concerns continued to plague Facebook (Nasdaq: FB).
In the broad market, declining issues outpaced advancers by a margin of nearly 50 to 1 on the NYSE and by nearly 19 to 1 on Nasdaq. The broader S&P 500 slumped 64 points to 1,970. Bitcoin slipped $4 to $220.
Chinese market crash sparks global sell-off
August 24, 2015 at 10:44 AM EDT
